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Dozens of regional banks saw share price swings that triggered trading halts as banks of all sizes feel the impact of last week’s bank failures. Go to Source Powered by WPeMatico
Christine Okike, a lawyer representing BlockFi at its bankruptcy hearing claimed that BlockFi is not in immediate danger and has sufficient funds to continue operating normally. Go to Source Powered by WPeMatico
Circle announced a new banking partner after Silicon Valley Bank’s failure and is expanding ties with BNY Mellon. Go to Source Powered by WPeMatico
Banking giant HSBC announced that its U.K. arm is acquiring Silicon Valley Bank UK Limited (SVB UK) for one pound ($1.21). Go to Source Powered by WPeMatico
In a short tweet thread with no specifics, Garlinghouse said the SVB situation would not disrupt daily operations. Go to Source Powered by WPeMatico
After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look at what fractional-reserve banking is and why … Read more
On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0.90, reaching a low of $0.877 per coin. Additionally, around five other stablecoins have dropped below the U.S. dollar parity during the early morning (ET) … Read more
Amid the demise of Silvergate Bank and the troubles faced by Silicon Valley Bank (SVB), market analysts believe Signature Bank (SBNY) may be a buy as it’s considered the “last game in crypto-town,” according to Wells Fargo equity analyst Jared Shaw. Silvergate’s liquidation caused SBNY shares to sink on Friday, dropping more than 13% as … Read more
The recent collapse of crypto-friendly bank Silvergate will likely increase regulatory scrutiny on the ties between the crypto industry and the banking sector in the U.S. Go to Source Powered by WPeMatico
The four Republican senators sense hints of the Obama administration’s Operation Choke Point that used regulation against disfavored industries. Go to Source Powered by WPeMatico
